[cube13]

And? That's the definition of a peer.

There seem to be two issues here that are being conflated.

The first is the value of peer review. I don't agree with the arguments that having a select group of people, who are experts in their fields, reviewing papers is a bad thing. Nor do I think that opening it up will result in anything other than a terrible amount of noise.

The second argument is over the necessity of for-pay journals. Here, I think there could be a lot of work... if the new journal still provides the same amount of review and scrutiny as the current ones.